Category: Georgia | Foreclosure - page 3

Homeowners facing foreclosure often feel like they are up against impossible odds. Not only are they dealing with the stress of potentially losing their house, but they also have to navigate a complex legal process....

Foreclosure is the process of a bank or lender retaking possession of a property after its owner falls behind on their mortgage payments. In Georgia, there are two types of foreclosures: judicial and non-judicial. However, regardless of …

When your family is suffering from debt and financial struggles, it can feel like they will never end. The fear of losing your home, car, or job can be overwhelming. While many families view bankruptcy as a last resort to get relief from the crippling weight of their debts…

The best defense against foreclosure is to act proactively. In a tough economy, many factors contribute to a homeowner's ability to pay his or her mortgage or other debts. Regardless of the reason, if you fall behind on your payments, keep in regular contact with your lender. Under the terms of the National Mortgage Settlement, lenders must make certain options available to homeowners to stay out of foreclosure…

In February, Wells Fargo & Co., the world’s largest bank, agreed to settle a mortgage-lending lawsuit for $1.2 billion. That, however, isn’t even the largest penalty the bank has paid: in 2013, it paid more than $5 billion in settlements and nearly $2 billion in violations. Wells Fargo is just one of many banks fined…

The business blog of the Atlanta Journal-Constitution recently noted that both foreclosure rates and mortgage delinquencies in the Atlanta area have dropped in the past year. Atlanta’s foreclosure rate matched Georgia’s statewide, but the delinquency rate for the city was slightly lower than the state rate of 3.29 percent. These statistics serve up good news…

Every state has different rules when it comes to bankruptcy. States have their own laws about which property can be kept (exempted) in a Chapter 7 bankruptcy proceeding. While many states allow you to choose between state and federal rules, Georgia limits its residents to state rules. Georgia’s bankruptcy exemptions apply to property or equity…

Falling behind on your mortgage payments can be an incredibly frightening thing. You may wonder how you will catch up, whether you will be able to keep your home or even if you might end up on the street. From the time you notice yourself falling behind on payments, you should begin to take action….

Homeowners throughout Georgia are finding themselves in difficult financial situations. If you are in danger of losing your home to foreclosure, you are probably considering every possible choice. Depending on your income, your assets and the amount of equity you have in your home, you have different options. Loan modification may seem like the easy…

Chapter 7 bankruptcy and foreclosure often go hand in hand. Mortgage debt is one of the most common causes of bankruptcy, so if you know you face foreclosure and also know you are planning on filing for bankruptcy protection, you must decide whether you will file for bankruptcy before or after the foreclosure. In most…